Tag: stock market

Most of the top Federal Reserve officials said it was likely that the central bank would start to shrink its balance sheet this year, according to minutes of the March policy meeting released Wednesday. Fed officials had an in-depth discussion of the technical details of the balance sheet policy, including whether to phase out reinvestment of principal payments or doing it all at once. Officials supported a gradual pace of rate hikes but said they could change their mind if the economy unexpectedly heated up. There was a lengthy discussion of the stock market, which some Fed officials described as “quite high” by standard valuation measures. Financial conditions were seen as a doubled-edged sword, either potentially providing greater stimulus from consumer spending or downside risks from a significant correction.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Gold prices retreated Wednesday following three sessions of gains as better-than-expected employment data revived appetite for riskier assets such as stocks. The U.S. private sector added 253,000 jobs in March, according to Automatic Data Processing Inc., significantly ahead of the 170,000 projected by economists. June gold shed $9.90, or 0.8%, to settle at $1,248.50 an ounce. The S&P 500 rose 0.7% to trade at 2,377 in early afternoon.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

President Donald Trump said a chemical weapons attack in Syria was “an affront to humanity” and it “crossed a lot of lines” for him. Speaking at a news conference with the king of Jordan, Trump said “what happened yesterday is unacceptable to me” but did not discuss possible responses from the U.S.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Taser International Inc. disclosed Wednesday that the maker of TASER electrical weapons and body cameras has changed its name to Axon Enterprise Inc., effective April 5. Starting Thursday, the stock’s ticker symbol will change to “AAXN.” The company also announced an initiative to equip every police officer with a body camera. “Since its inception, the Taser name has become synonymous with iconic, less-lethal weapons,” Axon said in a statement releases Wednesday. “Today, the company’s portfolio has grown to encompass a much wider range of technologies, including a rich ecosystem of connected devices and software applications.” The stock shed 1.8% in midday trade. It has dropped 11% year to date, compared with the S&P 500’s 6.1% gain.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shares of Amazon.com Inc. are on track for their sixth straight-record close on Wednesday, which would mark the longest streak of records for the stock since July 2013. Up another 1.7% to $922.04 in afternoon trade, Amazon stock is heading toward its eighth-straight session win. That would represent its longest winning streak since August 2014, when it closed in the green nine days in a row. Shares of Amazon have gained 57.5% in the past 12 months, compared with a 16.1% increase for the S&P 500 . Since the start of this year, Amazon’s market cap has rocketed $83.5 billion to $439.9 billion. The company has benefitted from investments in e-commerce and its cloud service, Amazon Web Services.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

BMW AG, Allstate Corp. and GlaxoSmithKline PLC joined Mercedes-Benz and Hyundai in pulling advertising from the Fox News show, “The O’Reilly Factor,” after revelations that anchor Bill O’Reilly, or the network’s parent, 21st Century Fox, paid $13 million in settlements to five women who accused him of sexual harassment, according to media reports. “Given the importance of women in every aspect of our business, we don’t feel this is a good environment in which to advertise our products right now,” Donna Boland, head of corporate communications for Mercedes-Benz, told CNN Money. Hyundai told the New York Times it made its decision because of the “recent and disturbing allegations.” Paul Rittenberg, executive vice president of advertising sales at Fox News Channel, said “we value our partners and are working with them to address their current concerns about the “O’Reilly Factor”. At this time, the ad buys of those clients have been re-expressed into other FNC programs.” News Corp, which owns Dow Jones & Co., publisher of MarketWatch and the Wall Street Journal, and 21st Century Fox were part of the same company until 2013. 21st Century Fox shares were slightly lower Wednesday, but are up 13% in the year so far, while the S&P 500 has gained 5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Nasdaq Composite Index on Wednesday touched a fresh record in intraday trade, as the stock market rallied in the wake of better-than-expected private-sector job growth and modestly higher crude-oil prices , bullish factors for investors. The Nasdaq Composite traded at at a high of 5.933.78, eclipsing its previous record of 5.928.93, which it touched March 1. If the Nasdaq finishes above 5914.34 hit March 30, it would log its 22nd record finish of 2017 and its 30th since President Donald Trump won the November election. Sparking the rally was a labor-market report showing that employers added 263,000 private-sector jobs in March, up from a revised 245,000 in February, according to payrolls firm ADP. Although the stock-market advance cooled somewhat after Energy Information Administration showed a unexpected rise in crude inventories, the Dow Jones Industrial Average and the S&P 500 index were trading above their 50-day moving averages, seen as an important sign of upward momentum.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Oil futures pared gains Wednesday after data showed an unexpected rise in U.S. crude inventories last week. The Energy Information Administration said inventories rose by 1.6 million barrels. Economists surveyed by The Wall Street Journal had forecast a 200,000 barrel decline, while reports said the American Petroleum Institute’s weekly tally late Tuesday showed a 1.8 million barrel decline. West Texas Intermediate crude futures for May delivery on the New York Mercantile Exchange were up 38 cents at $51.41 a barrel but had traded above $51.70 ahead of the data. Gasoline inventories fell by around 600,000 barrels, the EIA said, versus expectations for a fall of 1.6 million barrels. Distillate stocks, which include diesel fuel and heating oil, fell by 500,000 barrels, the EIA said, versus forecasts for a decline of 700,000 barrels.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Secretary of State Rex Tillerson will travel to Moscow on April 12 for discussions with Russian officials on Ukraine, counterterrorism and other issues including Syria, the State Department said Wednesday. Acting State Department spokesperson Mark Toner said the trip is part of the U.S. effort to “maintain direct lines of communication with senior Russian officials and to ensure U.S. views are clearly conveyed.” Federal Bureau of Investigation Director James Comey has said the agency is probing possible contacts between the Trump campaign and Russia. President Donald Trump regularly blasts allegations of contacts as “fake news.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Martha Stewart, a member of the Sequential Brands Group Inc. brand portfolio, announced Wednesday that it has partnered with Drinks, a wine delivery marketplace, to launch Martha Stewart Wine Co., an online wine shop. Wines for sale have been chosen by Stewart herself with help from an expert panel, according to a release. Prices will range from affordable everyday wines to premium bottles. Wines will be packaged and delivered within three business days, and shipping will be included with the purchase of 12 bottles or more. Monthly wine clubs and year-long gift subscriptions are also available. Martha Stewart recently announced a partnership with Marley Spoon Inc. to create Martha & Marley Spoon, a meal kit delivery service available through AmazonFresh in select cities. Sequential Brands shares are up 0.8% in Wednesday trading, but down 43.3% for the last year. The S&P 500 index is up 16% for the past 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News